TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Exporters in Protocol Exports Qualify for Section 80HHC Tax Deduction, Even with Initial Rupee Payments.</h1> The circular addresses whether exporters involved in 'protocol exports,' where sales proceeds are received in Indian rupees, qualify for deductions under section 80HHC of the Income-tax Act, 1961. Protocol exports involve transactions under Government to Government credits, with payments settled in Indian currency but eventually adjusted and realized in foreign exchange. After consultation with the Ministry of Commerce, the Central Board of Direct Taxes clarifies that exporters participating in such transactions are eligible for the deduction under section 80HHC, regardless of the currency in which the proceeds are initially received.
TaxTMI 
TaxTMI 
